For Immediate Release
Contact: Erin Way, Media Relations

(202) 942-9474, eway@iedconline.org
October 22, 2008

Mesa del sol, a Forest City Covington community,

receives award at International Economic

Development Council Conference

Albuquerque, NM-based Organization Recognized for Technology-Based Initiatives

Acknowledging Mesa del Sol for its technology-based economic development initiatives, the International Economic Development Council (IEDC) presented an award to the Albuquerque, New Mexico-based entity at IEDC's Annual Conference, which is taking place in Atlanta this week. The organization was recognized for this achievement during an awards ceremony held on Tuesday, October 21st.

"Economic development efforts have long been a keystone in the quest to bolster the economy and improve quality of life in every locality across the country," said Robin Roberts Krieger, IEDC chair. "As the nation continues to tackle longstanding challenges in the midst of an inhospitable financial climate, these efforts have taken on an even greater significance. With the award, we laud trendsetting organizations like Forest City Covington for developing Mesa del Sol and leading the charge."

Competing in the category of Technology-Based Economic Development by organizations serving areas with populations between 50,000 and 200,000, Forest City was a clear standout with Mesa del Sol. Mesa del Sol is one of the largest New Urbanist mixed-use, master-planned community projects in the country and is being developed on state-owned land by a public-private partnership led by Forest City Covington. The master plan is approved for 37,000 residential units, 18 million square feet of industrial, office and retail space, and it will accommodate 100,000 residents and 50,000 new jobs. The project utilizes complex public-private partnerships that combine local innovation and technology assets with the company's cutting-edge sustainability design practices and economic development acumen.

One of the unique elements of Mesa del Sol's master plan is the design and development of an economic base ahead of the housing. Forest City Covington, the developers of Mesa del Sol, and their public partners have chosen to focus initial economic development efforts on four technology-based industry sectors: Entertainment and Digital Media, Federal Government Services, Renewable Energy and Sustainable Materials, and Financial Services. Overall, these efforts have created over 11 projects under contract, in the ground and/or occupied with 3,610 jobs and 1.3 million square feet.

The International Economic Development Council (IEDC) is headquartered in Washington, DC. Its mission is to provide leadership and excellence in economic development for communities, members and partners. IEDC's professional economic development awards annually recognize excellence in the economic development profession.

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